“One retailer, which has been widely discussed, has the reputation for bad labor relations, discrimination on the basis of gender, not providing adequate health benefits, and more recently bribery, particularly in the context of Mexico.

...India has to ask before opening its markets to financial products, what they are going to do for promoting growth. The evidence is so overwhelming that these instruments will promote instability that a lot of caution is needed.”

Stiglitz said India needs to be smart about the FDI it attracts and should do it in a way that it gets access to "capital, technology, access to markets and training". He also said the government needs to pursue policies that are good for its populace and not chase growth "based on crony capitalism".

Stiglitz warned against chasing after American capitalism since it could lead to great inequalities like we see in the U.S. today.